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oil products

Oil edges higher as tight supply outweighs virus spread

Oil edges higher as tight supply outweighs virus spread

Published 27 Jul, 2021 06:35pm
  • Brent crude futures rose 23 cents, or 0.3%, to $74.73 a barrel
  • With oil demand growth likely outpacing supply growth in the near term, we expect oil tightness over the summer, which should boost oil prices
Oil track for big weekly drop as supply concerns mount

Oil track for big weekly drop as supply concerns mount

Published 16 Jul, 2021 09:05pm
  • Brent crude was down 82 cents, or 1.1%, at $72.65 a barrel, heading for a 3.8% fall this week.
  • Saudi Arabia and the UAE reached a compromise this week, paving the way for OPEC+ producers to finalise a deal to increase production.
Oil prices firm as US inventories decline

Oil prices firm as US inventories decline

Updated 09 Jul, 2021 05:07pm
  • US oil and gasoline stocks fall as fuel demand rises.
  • OPEC+ impasse fuels uncertainty over global supply.
  • Fears of rising COVID-19 cases also weigh.
SOCAR, Rosneft tie-up on fuel supplies to Ukraine, other countries

SOCAR, Rosneft tie-up on fuel supplies to Ukraine, other countries

Published 17 May, 2021 07:43pm
  • The deal is likely to pave way for the resumption of Rosneft's exports of fuel to Ukraine, which has faced with the prospects of diesel shortages.
  • The operations were halted after a ruling by Kiev's Supreme Anti-Corruption Court led to the seizure of diesel, owned by the Swiss-based trader, that was in the pipeline from Russia.
Petroleum consumption on the rise

Petroleum consumption on the rise

Published 05 May, 2021 07:30am
Apart from the revival of economic activity in FY21 so far, two factors in April have been the driving force behind...
Ukraine turns to sea-borne diesel imports as tensions rise with Russia

Ukraine turns to sea-borne diesel imports as tensions rise with Russia

Published 05 Apr, 2021 07:43pm
  • Tensions between Russia and Ukraine have flared in recent weeks after years of strain began in 2014 when street protests in Kyiv resulted in the flight of the pro-Moscow president and annexation of Crimea by Russian forces.
  • The data also showed that the Serena M tanker shipped 30,000 tonnes of diesel to the port of Yuzhny from Turkey in the second half of March.
Belarus to ship 280,000 tonnes of oil products via Russian ports in April

Belarus to ship 280,000 tonnes of oil products via Russian ports in April

Published 05 Apr, 2021 05:41pm
  • Belarus has exported 220,000 tonnes of oil products to Russia since shipments began in March, Russian Prime Minister Mikhail Mishustin said separately on Monday.
  • The shipments were scheduled to start from March, totalling 2 million tonnes this year, 3.2 million tonnes next year and 3.1 million tonnes in 2023.
Oil rises as Suez Canal ship runs aground, demand fears weigh

Oil rises as Suez Canal ship runs aground, demand fears weigh

Published 24 Mar, 2021 08:20pm
  • API says US crude inventories rise 2.9 million barrels.
  • Germany's Merkel says drops plan for stricter Easter shutdown.
  • Sentiment still bearish after other pandemic curbs in Europe.
  • Ship in blocked convoy in Suez Canal on move- source and witness.
OPEC+ compliance with oil cuts rises to 113pc in February

OPEC+ compliance with oil cuts rises to 113pc in February

Published 22 Mar, 2021 10:07pm
  • Compliance from members of the Organization of the Petroleum Exporting Countries reached 124%, a figure which includes the additional voluntary cut from Saudi Arabia, said one of the sources.
  • Compliance from non-OPEC members in the alliance reached 94%, the source added.
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